Equatorial Guinea to strengthen trade relations with China

01.05.2015

Last week, President Obiang and a delegation from Equatorial Guinea visited China to further mutual trade and investment relations during the first Equatorial Guinea-Asia Economic Forum.Obiang_China

Early in the week, President Obiang met with his Chinese counterpart, President Xi Jinping, to discuss bilateral relations. The two discussed the evolution of their countries’ historic ties, and declared their determination to continue reinforcing them.

During the Economic Forum, the delegation, represented by the Ministry of Mines, Industry and Energy, signed a number of memoranda of understanding (MOU) with Chinese companies from various sectors. These MOU include the following:

  • MoU with CDIG for the execution of a study for development of the Industrial City of Mbini. CDIG will undertake preliminary technical studies and explore key areas to promote the industrial city to international investors.
  • MoU with China State Construction Engineering Corporation for planning and development of the Petroleum Industrial City of Luba.
  • MoU with Sinohydro Corporation for a feasibility study to develop a hydroelectric plant on the Wele River in Equatorial Guinea. Sinohydro also built the Djibloho 120-MW hydro facility.
  • MoU with China Machinery Engineering Corporation (CMEC) for a technical and financial viability study to build a combined cycle 100-MW power plant in the city of Kogo.
  • MoU with CMEC for a technical and financial viability study to establish an interconnected power grid in the CEMAC region.
  • MoU with CMEC for a technical and financial viability study to build street lamps and related public lighting infrastructure in the Industrial City of Mbini.

On the success of the Summit, President Obiang stated: “We are aware that maximum security is needed to ensure investment. In this regard, we can confirm 45 years of experience in the cooperation between China and Equatorial Guinea; cooperation which in many ways has been possible thanks to the peace and stability that prevails in the country.”

Read more here: http://www.prnewswire.co.uk/news-releases/equatorial-guinea-scores-investment-deals-with-chinese-firms-at-economic-forum-in-dalian-501979601.html and here http://www.guineaecuatorialpress.com/noticia.php?id=6499.

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